Most of our day-to-day decisions involve matters of finance and life’s biggest purchases revolve around finance. And not to sound drastic but our future really does depend on it.
Yet personal finance, from investing to budgeting, is one of those things that we sadly aren’t taught in school. Our curriculum is so jam-packed with all sorts of other things from PE lessons to nap time and even creative thinking! But what about personal finance? Where does that come in?
Surely kids need to know about that, too. Kids are also like sponges and what better age to teach them about something so crucial and life-dependent than when they’re in primary school?
Because the more we understand how finance works, the more secure and self-sufficient we’ll be. And the easier things will be down the road. Like retirement which, by the way, will be the most expensive time of our lives.
It’s a horrible feeling to have to rely on someone else to sort out your finances. You need to know how it all works regardless of whether your partner/spouse takes care of that! Read here why you must talk money before marriage. Having control over money rather than letting it control you is one of the best – and most important things.
People get divorced (I have 2 divorced aunts) and people’s spouses pass on. But understanding how to manage your finances, being able to manage things on your own will help reduce so much of the heartache involved in these awful circumstances.
My friend lost her dad at 16. Luckily, her mum knew the ins and outs of their finances. They did everything together. And when he passed, she knew his life insurance would kick-in and she knew how to manage their estate. My friend’s mum is a doctor and she was able to support the 2 of them. Being self-sufficient is so powerful.
Be prepared for the worst but hope for the best. Money, and knowing what to do with it, can quite literally be your saving grace. (Read here the 3 simplest ways to boost your financial resilience than anyone can adopt.)
Believe you can, and you will
And it all starts with confidence. To have the confidence to figure it out and to make it work. To believe in yourself. But most of all, to have the confidence to start! Because we all start from somewhere. But it’s the starting bit that matters. And once you start, know that the hard part is outa the way.
Confidence often comes from competency.
And for many, investing triggers this confidence gap. It’s stupidly complex and intimidating and jargon-y. No wonder not enough people (especially women) aren’t investing! It’s just too daunting.
Start somewhere, start speaking
When it comes to personal finance, most people hold from talking about it. Like it’s some forbidden word. It could be because they find it (too) personal, that they find it awkward and uncomfortable to talk about money. But if we don’t talk about money then we how are we expected to get better at it?! Read here how to master these 5 simple habits to upgrade your finances in less than 1 year.
The more you talk about money, the more you’ll get to understand it. And the more you understand it, the better you’ll be at managing finances. Whether it be talking about money with your family/friends or colleagues or really anyone you come across, we all have a different take on it.
We’re all different. With different wants and need which means the way we handle our money will be so different! Talking about money opens up the chance for us to do things differently by seeing what works (and what doesn’t) for us and see how this compares with others.
It always amazes me how everyone has their own attitude toward money. I think it’s great when we’re exposed to opinions outside our own because there’s always more to learn.
But we gotta get talking.
Money is NOT a taboo. It’s a tool that we use on a daily basis and how are we expected to know how to use it if we don’t talk about it. So start those convos. You’ll be amazed and what will follow.
Because finance and investing is one of those things that doesn’t naturally speak to women like it does our male counterparts we can feel left behind.
I actually jumped on a call recently with a female entrepreneur who’s working on an investment platform that hopes to shift the landscape of women and investing.
And part of this is to address the lack of confidence. By bringing its users (female professionals) together. To talk to one another, about their financial worries and dreams.
Because it’s all about talking. Because talking leads to action. And the more our friends talk about investing, the more likely it’ll rub off on us. It’s daunting at first but once you feel confident in what you’re doing, you’ll start to enjoy it and you can then pass that knowledge on and pay it forward!
You’ll know something someone doesn’t and visa versa. Together, we can beat this confidence thing.
So let’s get into the groove of personal finances. If others can do it, so can we! But we’ve gotta start. And take action.
There’s no time like the present. Your future self will thank you.
Disclaimer: This blog is not investment or financial advice. It is my opinion only. This blog is not a personal recommendation to buy/sell any security, or to adopt any such investment strategy. Always do your own research before you commit to any investment.
Knead Your Dough 